Financial Institutions (NASDAQ:FISI) Upgraded to Hold at StockNews.com

Financial Institutions (NASDAQ:FISI) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Several other research firms also recently commented on FISI. Stephens reiterated an “equal weight” rating and set a $33.00 target price on shares of Financial Institutions in a research report on Friday, January 31st. Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $29.00 to $34.00 in a report on Monday, February 3rd. Finally, Piper Sandler started coverage on shares of Financial Institutions in a report on Friday, December 20th. They set an “overweight” rating and a $33.00 price target for the company.

Financial Institutions Trading Down 1.4 %

FISI opened at $28.00 on Tuesday. The company’s 50 day moving average is $27.16 and its 200-day moving average is $26.04. Financial Institutions has a 1-year low of $16.29 and a 1-year high of $29.34. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The company has a market cap of $433.16 million, a P/E ratio of -19.31 and a beta of 0.90.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.20). Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. Equities research analysts predict that Financial Institutions will post 3.3 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert N. Latella acquired 4,000 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the purchase, the director now directly owns 16,000 shares of the company’s stock, valued at $400,000. The trade was a 33.33 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.68% of the stock is currently owned by company insiders.

Institutional Trading of Financial Institutions

Several hedge funds have recently modified their holdings of FISI. PL Capital Advisors LLC increased its stake in Financial Institutions by 666.8% during the 4th quarter. PL Capital Advisors LLC now owns 13,583,625 shares of the bank’s stock valued at $370,697,000 after purchasing an additional 11,812,109 shares in the last quarter. Wellington Management Group LLP bought a new stake in Financial Institutions during the 4th quarter valued at $18,294,000. Stieven Capital Advisors L.P. bought a new stake in Financial Institutions during the 4th quarter valued at $6,140,000. Alliancebernstein L.P. increased its stake in Financial Institutions by 1,409.9% during the 4th quarter. Alliancebernstein L.P. now owns 231,010 shares of the bank’s stock valued at $6,304,000 after purchasing an additional 215,710 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in Financial Institutions during the 3rd quarter valued at $4,706,000. Institutional investors own 60.45% of the company’s stock.

Financial Institutions Company Profile

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.